The CES is a good one this year. Everywhere is IoT. And honestly I am little tired of hearing IoT or “Internet of Things” which is estimated to become a $7 trillion industry where thermometers, clocks, garbage cans, toilets, washing machines, watches, smart phones, fridges, baby monitors, garage doors and coffee makers are all connected digitally, allowing seamless interactions and smart living for us. Sensors are cheap and can be deployed everywhere collecting data, unnoticed.
There’s a lot of buzz about big data in the retail banking sector right now as all the major banks work out how best to bring new unstructured data sets (such as social data and mobile data) together with transactional data in order to improve customer experience, become more competitive and drive growth.
The adage “god is in the details” is usually offered in reference to a small mistake with big consequences. And when it comes to brand touchpoints, it’s commonly known how a screw-up here or a snafu there can cause significant damage to a brand’s image and equity.
We often talk about the future as something linear, directly in front of us. We are giving ourselves the impression that we are operating within some kind of limited space, where in order to make room for new stuff, old stuff has to disappear – or be killed.
For all the talk of the momentous changes in media and marketing that we are living through, I felt there was a need to speak up for what I believe may be the greatest opportunity that businesses will have over the next few years to deliver real value back, accumulate not just knowledge but wisdom and understanding, and to recognise the huge opportunity we have to do things quantifiably better than we do now. So I penned a leader for the good people at Marketing Week on the subject, and they've kindly allowed me to reproduce it here in full:
Digital’s introduction to retail, be it a slow one, will accelerate as the understanding of the width of web and mobile broadens from being all about destinations, to integration into every aspect of business: